The term Banana Republic was first recorded in “The Admiral”, a short story from O’Henry’s 1904 collection Cabbages and Kings. This is how the description went – “…In the constitution of this small, maritime Banana Republic was a forgotten section that provided for the maintenance of a navy. This provision—with many other wiser ones—had lain inert since the establishment of the Banana Republic. Anchuria had no navy and had no use for one. It was characteristic of Don Sabas…” In short, Banana Republic is a term used to refer a politically unstable country whose economy is dependent on exporting a limited-resource product (banana).
